MIRA
INFORM REPORT
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Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ROYAL CAPS HOUSE |
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Registered Office : |
6716, Ahath Kidara, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer Exporter and Supplier of Caps, Hats, T-Shirts, Jackets,
Bags, Diaries, Pens, Key Chains, Ties, Wind Cheaters and Corporate Gifts |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessman.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
6716, Ahath Kidara, |
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Tel. No.: |
91-11-42794063 |
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Mobile No.: |
91-9811108251 (Mr. S. Jamil) |
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E-Mail : |
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Website : |
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Area : |
300sq.fts |
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Location : |
Owned |
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Factory 1 : |
Same Area |
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Area : |
220sq.mt |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Kurshed Iqbal |
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Designation : |
Partner |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Graduate |
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Experience : |
20 Years |
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Name : |
Mr. S. Jamil |
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Designation : |
Partner |
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Date of Birth/Age : |
39 Years |
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Qualification : |
Graduate |
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Experience : |
17 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer Exporter and Supplier of Caps, Hats, T-Shirts, Jackets,
Bags, Diaries, Pens, Key Chains, Ties, Wind Cheaters and Corporate Gifts |
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Products : |
T- Shirts, Caps, Hats, Bags |
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Exports : |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Terms Export: L/C, D/A and DP Local Sales: Cash or 30 – 45 days credit |
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Purchasing : |
Cash or 30 days Credit |
GENERAL INFORMATION
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Suppliers : |
Purchase of Raw Material from Local Market |
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Customers : |
AI |
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No. of Employees : |
25 |
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Bankers : |
State Bank of Model BAsti, |
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Facilities : |
Rs.1.500 millions |
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Banking
Relations : |
Satisfactory |
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Memberships : |
IMPEX |
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Associates/Subsidiaries : |
ADD Accessories Address: Same E – Mail: addx@rediffmail.com Activities: Same Sales Turnover: Rs.15.000 millions Employees: 20 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
- |
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Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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20.000 |
15.000 |
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Gross Profit |
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12 – 13% |
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Profit After Tax |
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7 – 8% |
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Expected Sales (2007-08) : Rs.25.000 millions
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Subject is a manufacturer and
supplier of Caps,
Hats, T-shirts, Jackets, Bags, Diaries, Pens, Key chains, Ties, Wind cheaters
and corporate gifts available in exclusive designs and
varieties that suit the latest trend. With a zealous attitude towards quality
and driven by market trends and requirements they strive to give their best to
all their commitments. They have an intense desire to excel in all the spheres
of production due to which they have grabbed strong market position within a
decade.
They emphasize
on delivering unique and stylish products that set them apart from other houses
and their creativity make the products as a distinguished in the competitive
market. The perfect blend of color, design and pattern is the result of
integrated effort of their designers and tailors who leave no stone unturned in
making best range of Caps and Hats in the market.
Credit of the
grand success of the company goes to the professional management, skilled
workforce, quality products & services and commitment to customer
satisfaction, due to which they have earned the valuable respect &
admiration of clients in the domestic market.
The company's main aim is to meet the increasing demands of the domestic
markets by providing top quality products & services at competitive prices,
along with prompt & timely delivery of goods.
With a decade of experience in the production of Caps,
Hats, T-shirts etc., the company has all the necessary
resources to meet the requirements of customers everywhere.
Future Programs:
Wanted to increase export
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.47 |
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1 |
Rs.80.28 |
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Euro |
1 |
Rs.54.43 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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